Month: January 2023

Bitcoin’s Crypto Market Action Holds the Upper Hand as Dominance Level Surpasses 40% – Bitcoin News

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On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time on Saturday. The entire crypto-economy is now valued at $1.05 trillion after rising 7.2% against the U.S. dollar. Bitcoin’s price rise has led to the crypto asset’s dominance level surpassing the 40% region among thousands of crypto assets, as the digital currency’s market valuation has climbed to $443 billion. Bitcoin’s Value Rises 37.2% in 30 Days, Pushing Dominance Level Above 40% Bitcoin jumped above the $23,000 zone on Jan.…

U.S. home-loan banks lent billions of dollars to crypto banks: Report

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The United States Federal Home Loan Banks System (FHLB) is lending billions of dollars to two of the largest cryptocurrency banks in an effort to mitigate the effects of a surge in withdrawals, according to a report from The Wall Street Journal on Jan. 21.  The FHLB is a consortium of 11 regional banks across the United States that provide funds to other banks and lenders. Founded during the Great Depression to support housing finance, the system has $1.1 trillion in assets and over 6,500 members. Traditional finance has remained…

US Government Seizes $700 Million in Assets From Disgraced FTX Co-Founder Sam Bankman-Fried – Bitcoin News

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Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions in cash. US Government Seizes Millions in Cash and Robinhood Shares From FTX Co-Founder; SBF Denies Misappropriation of Customer Assets The U.S. government has seized nearly $700 million from the former FTX CEO and co-founder, Sam Bankman-Fried (SBF), according to court documents reviewed by CNBC. Most of…

Bitcoin due new ‘big rally’ as RSI copies 2018 bear market recovery

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Bitcoin (BTC) is in for a new “big rally” as market strength copies conditions from after the 2018 bear market. According to the latest analysis, BTC/USD will continue to head higher “after some consolidation” thanks to key signals from its relative strength index (RSI). Bitcoin prints never-before-seen bullish divergence With the BTC price gains still coming, Bitcoin bulls are feeling increasingly confident despite widespread mistrust of the longevity of the current rally. For popular trader Crypto Wolf, a key phenomenon now underway sets Bitcoin’s latest recovery apart from all others.…

Bitcoin Hits $23,000 As Crypto Market Cap Revisits $1 Trillion Mark

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Bitcoin, the king of cryptocurrencies, has been crossing multiple crucial resistances since the start of the year. According to CoinGecko, the coin is now up 14% in the weekly timeframe, and trading at $23,008, making BTC break through the $22,000 and $23,000 resistance levels that have limited the crypto’s ascent.  This year witnessed a complete U-turn in investor sentiment on cryptocurrencies as both Ethereum and Bitcoin reaped massive gains, along with the other top altcoins. This led to the entire crypto market to experience a resurgence in almost all aspects.…

SOL up 20%, ADA Hits Highest Point Since November – Market Updates Bitcoin News

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Solana rose by as much as 20% Saturday, as crypto markets came alive to start the weekend. The token hit a 12-week high in today’s session, breaking out of a key price ceiling in the process. Cardano also rose to its strongest point since November, with the global cryptocurrency market cap up 6.86% as of writing. Solana (SOL) Solana (SOL), was one of Saturday’s notable gainers, as the token rose by as much as 20% in today’s session. SOL/USD hit a high of $26.41 to start the weekend, which follows…